8 - 2023 | MachinaTrader.com

Crypto Companies Adapt to Global Regulatory Landscapes Amidst Binance Withdrawal Issues and Coinbase-Circle Re-Alignment

This week’s Crypto Biz explores the latest developments in the global regulatory landscape for crypto companies, particularly in the United States. Coinbase and Circle have decided to dissolve the Centre Consortium in a strategic realignment driven by demand for regulatory clarity on stablecoins. Binance.US has announced a partnership with MoonPay featuring the dollar-pegged stablecoin Tether […]

Binance Halts Peer-to-Peer Transactions with Sanctioned Russian Banks Amid US DOJ Probe

Binance, one of the world’s largest cryptocurrency exchanges, has ceased offering its clients the option to conduct peer-to-peer transactions through sanctioned Russian banks. This decision follows a Wall Street Journal exposé that revealed how the exchange allegedly facilitated the movement of funds from Russia to other countries.A spokesperson from Binance stated that the exchange regularly […]

Visa and Mastercard Distance Themselves from Binance Despite Legal Challenges

Visa and Mastercard have recently distanced themselves from Binance, one of the world’s largest cryptocurrency exchanges. This decision comes only weeks after Binance has been facing multiple legal challenges in the United States.Experts believe that this move is unlikely to hurt the crypto exchange, as Binance has been able to successfully navigate similar challenges in […]

Binance Under Fire for Allowing P2P Trading with Russian Banks

A controversy has emerged this week surrounding Russian banks and Binance, one of the world’s largest cryptocurrency exchanges. According to the Wall Street Journal, Binance has continued to allow peer-to-peer trading involving the Russian banks in question. The implications of this news are yet to be seen, but it could have a significant impact on […]

Vauld Appoints New CEO and Creditor Representative Amidst Struggles

Vauld, a Singapore-based cryptocurrency lending platform, has announced several changes, including the appointment of a new CEO. The bear market has had a significant impact on the company, leading to layoffs and the suspension of withdrawals and deposits. In July, Vauld filed for protection against creditors and the Singaporean magistrate has approved the company’s scheme […]

Fed Chair Powell Cautions on Inflation, Markets Recover as Bitcoin Could Reach $148,000

Federal Reserve Chair Jerome Powell spoke today and in his Jackson Hole speech he cautioned that inflation remains too high and that the central bank remains open to raising rates further if needed. This has strengthened the narrative that interest rates are likely to remain higher for longer. After a brief sell-off, the United States […]

DEA Loses $50K to Crypto Scammer in Address Poisoning Scheme

The U.S. Drug Enforcement Administration (DEA) was recently tricked by a crypto scammer, resulting in a loss of over $50,000 in USDT. The scammer used a technique known as address poisoning, which involves sending transactions of no value to a victim’s account from a similar address. The DEA had seized approximately $500,000 in Tether from […]

Hong Kong Exchange HashKey Secures Regulatory Clearance to Offer Bitcoin and Ethereum Trading for Retail Investors

HashKey, a prominent Asian cryptocurrency exchange, has recently secured crucial regulatory clearances, allowing them to offer retail customers the option to trade in two of the most dominant digital currencies: Bitcoin and Ethereum. This move positions Hong Kong as a frontrunner in adopting and legitimizing cryptocurrency trading for retail investors.The exchange has been granted two […]

DeFi Market Sees Mixed Week as Base and Optimism Unveil Shared Governance Framework

This week in DeFi saw developers behind Base and Optimism protocols join forces to create a revenue and governance sharing framework. Additionally, the $1.5 billion Multichain hack has seen some new evidence, and blockchain security provider Quantstamp has introduced a new DeFi tool to detect flash loan attack vulnerabilities in several protocols. Shiba Inu’s Ethereum […]

Tether Reports $3.3 Billion in Excess Reserves, Stablecoin Adoption Remains Strong

Tether, the stablecoin giant, has released a new transparency report that confirms its tokens are over 100% backed. The report states that Tether has $86.1 billion in assets and $82.8 billion in liabilities, with the largest amount of USDT (~42.5 billion) circulating on Tron and a rivaling amount (~38.4 billion) trading on Ethereum. The company […]